Governor appoints Lambert to tobacco settlement board

Staff reports

BATON ROUGE – Louis Lambert, Jr. of Prairieville was named to the Tobacco Settlement Financing Corporation Board on Wednesday by Gov. Bobby Jindal.

Lambert is a veteran of the Louisiana National Guard, an attorney and a former Louisiana State Senator. He is also a former chair of the Louisiana Public Service Commission. Lambert will serve as an at-large member, as required by statute.

Under the Master Settlement Agreement of 1998 between cigarette manufacturers and 46 states and other U.S. jurisdictions, seven tobacco companies agreed to pay the settling states an estimated $206 billion. The Tobacco Settlement Financing Corporation Board serves to purchase, finance and manage the tobacco assets resulting from the Master Settlement Agreement.

According to statute, the board is comprised of 13 members, including the governor, the state treasurer, the attorney general, the president of the Senate, the speaker of the House of Representatives or their designees.

The remaining eight members are gubernatorial appointments, subject to senate confirmation. One member each is appointed from the seven congressional districts and one member serves as an at-large member.